- SunEdison CEO Ahmad Chatila resigned on June 16 from all positions at the US company
- His resignation became effective on June 22, 2016
Chatila's is replaced by Chief Restructuring Officer John S Dubel
- Dubel will continue to be the CEO as well as CRO of SunEdison
President, CEO and Board Member of SunEdison, Ahmad Chatila has resigned from all the positions at the company with immediate effect. In a Securities and Exchange Commission (SEC) filing, SunEdison informed that Chatila had resigned on June 16, 2016, and it will become effective on June 22, 2016.
Though the filing states that there was no disagreement between the company and Chatila, it looks like an unceremonious exit for the latter. It referred to an employment agreement between the two last amended on March 10, 2015, according to which Chatila will not receive any severance payment.
The same day Chatila left John S Dubel has become the Chief Executive Officer, and will report directly to the SunEdison’s Board of Directors. Dubel took over as the chief restructuring officer (CRO) of the company in April this year (see SunEdison New Appointment). He will be now in charge of both roles. Dubel has been brought in to steer the bankrupt company’s restructuring efforts.
The US based renewable energy company had filed for Chapter 11 bankruptcy protection in April 2016 (see SunEdison & Its YieldCos).
Photo Caption: Chatila will not be entitled for any severance payment according to the terms of agreement signed between him and the company